Glossary

Direct premiums written

The total premium on the policies an insurer issues itself in a period, counted when written and before any share is passed to reinsurers.

Also called: DPW, direct written premium, DWP, gross premiums written, direct premium

Direct premiums written, or DPW, is the premium on the policies an insurer issues directly to policyholders during a period, measured before any premium is ceded to reinsurers and without adding premium it assumes from other insurers. It is counted when the policy is written, not as the coverage is earned, so a 12-month policy issued in November is counted in full in that year.

DPW is the usual size measure for insurers. The NAIC's annual market share reports rank groups by it, and this site's insurer profiles use the NAIC's 2025 homeowners multiple peril figures. In that data, State Farm Group wrote $35.27 billion of homeowners DPW across the states and territories, 18.67% of the total.

Do not confuse it with related measures. Net premiums written subtract premium ceded to reinsurers. Earned premium is the part of written premium that corresponds to coverage already provided, and it is the denominator in the loss ratio. A fast-growing insurer can have DPW well ahead of earned premium.

DPW measures size, not quality or profit, and part of a rise can come from rate increases rather than new customers. The NAIC reports by group, so the policy you buy may come from one company within it. See The 100 largest homeowners insurance companies in the U.S., 2025 for the ranking and market share for how DPW becomes a percentage.

Last reviewed October 10, 2026

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Related terms

Market share An insurer's portion of all premiums written in a given line, state and year, calculated by dividing its direct premiums written by the market total. Reinsurance Insurance that an insurance company buys from other companies, which reimburse part of its claim payments, especially after a large disaster. Loss ratio The share of earned premium an insurer pays out or sets aside for claims, shown as a percentage and used to judge profitability and set rates. Expense ratio The share of premium an insurer spends on commissions, salaries, marketing, taxes and other costs of selling and running its business, excluding claim payments. NAIC The standard-setting group governed by the chief insurance regulators of the 50 states, D.C. and five U.S. territories, founded in 1871. Premium The price of a policy for its term, set by rebuilding cost, location, claims history, roof, deductible and other rating factors.

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